A Canadian restaurant chain known for serving shawarma, hummus, and other Middle Eastern delicacies has dropped some serious truth bombs about why Bitcoin (BTC) is a better store of value than gold.
In a series of tweets, Ontario-based Tahini’s Restaurants explained why Bitcoin — and not gold — is the best way to preserve one’s wealth.
“We looked our financial advisor in the eye and told him gold will turn into a scam because of bitcoin,” Tahini’s tweeted, before explaining why “gold’s years are numbered.”
Contrary to what gold bugs think, the yellow metal’s true value comes from people and institutions storing it in vaults as a scarce commodity, the restaurant claims.
Bitcoin changes all that. Tahini’s tweets:
“Unlike gold, Bitcoin is 100% monetary premium which means it is not used for electronics or any other use cases other than pure money”
“Bitcoin dematerializes value and makes it digital which made it easier to move value across the world without the need for any third parties. We can move $100 million from Canada to the uk to Australia and back to Canada in 2 hours for 30 bucks MAX.”
Add in a shot at Peter Schiff for his reluctance to look behind shiny metals and you have a surprisingly thought-provoking Twitter thread. Not necessarily what you’d expect from a Canadian restaurant chain.
Tahini’s previously expressed its disdain for gold in less eloquent terms earlier this month when it tweeted: “gold is a shitty store of value…”
A little context: Tahini’s made headlines back in August when it announced it would allocate its entire cash reserves to BTC. The decision earned praise (and follows) from the likes of Anthony Pompliano, Max Keiser, and Stacy Herbert.
But it’s not just some random Canadian restaurant that thinks gold is losing allocation to Bitcoin. Even JPMorgan, Bitcoin’s arch-rival, thinks BTC is eating gold. The bank said:
“The adoption of bitcoin by institutional investors has only begun, while for gold, its adoption by institutional investors is very advanced. If this medium to longer-term thesis proves right, the price of gold would suffer from a structural headwind over the coming years.”
2021 has the potential to be a thrilling year for Bitcoin. With institutional adoption on the way, companies like Tahini are sending a strong message to small and medium-sized enterprises that the value of their money is declining rapidly. Bitcoin is the only asset that is engineered to preserve purchasing power over time.